#JoinTheConversation with Mike Trilli of The Aite Group
This #JoinTheConversation series is brought to you by our partner Experian Health and the episodes were broadcast live in Experian Health’s booth (#3503) at the The HIMSS17 Annual Conference and Exhibition. The interviews were recorded and published to the media player on this page. Please read more about why more than 60% of U.S. hospitals count on Experian Health.
Mike Trilli, Senior Analyst, Aite Group
Joe Lavelle 00:30 All right, I am Joe Lavelle and I’m so excited to be bringing you Join The Conversation with my co-host Todd Eury right from Experian Health’s booth at HIMSS17. Todd, let’s give a quick shout out to our sponsor, Experian Health.
Todd Eury 00:42 Joe this has been just an incredible gathering, I have enjoyed this immensely. I tell you what, Experian Health proves that they are a leader in healthcare to smarter business decisions, driving change, driving patient engagement. That’s what they do, and I’m excited to be part of this Joe. Thank you so much for having me on.
Joe Lavelle 01:01 Absolutely! We’re going to get right to it Todd. We’re going to introduce our distinguished guest, Mike Trilli, Senior Analyst with Aite Group. Mike, welcome to the show!
Mike Trilli 01:10 Thank you gentlemen.
Joe Lavelle 01:11 Well, we really appreciate you being here today. Before we start our discussion, Mike, could you take a few seconds, and inform the audience about your background?
Mike Trilli 01:18 Sure! So let me just start real quickly and talk about Aite Group. We are a primary research and advisory firm, and our core competencies really are financial services and insurance. I’ve been with the company now for 5 years, and I focus on the health insurance and payments practice. Really it’s a long winded way of saying I cover topics that impact both the provider’s revenue cycle as well as the health plan. And then, really my background is in payments in payments and related services, as well as in fraud and fraud risk management. So I kind of bring a blend of that corporate expertise into the research that I do.
Todd Eury 01:52 That’s a great overview of Aite Group, and giving us a better understanding. What can you tell us about the effect of the current political landscape on the Affordable Care Act?
Mike Trilli 02:09 I tell you what if we all had the answer here we might put the headphones down, right? But I think it makes for a lot of interesting dynamics, not only on the health system side but on the health plan side, and of course in the middle is the patient and the member. So, I think if we look at it there’s a lot of uncertainty, right? And I think ultimately the way the landscape potentially could shake out is, ultimately there is going to be a group of people who get insurance today, and the question is are they going to get it tomorrow? And more importantly in a systematic fashion, what are the rules for these insurance plans to deliver that product, right? So I think to me those are the big question marks out there.
I certainly anticipate to a large extent, the population getting it today will get it tomorrow, but I think the rules of engagement for health plans will be different as they should be, and I think this administration has the benefit, if you will, of four years of an ACA to kind of learn from. So I think the whole market, whether it’s the care side as well as the insurance side have had an opportunity to learn and let’s hope they take some of those learnings, keep some of the best practices, and get us to a 2 .0 situation.
Todd Eury 03:08 I like that positive overview attitude about it, very good.
Joe Lavelle 03:11 Absolutely. We want to tap into that expertise and ask you a few questions relating to the trends you’re seeing. The first trend is, identity management. What are you seeing here at HIMSS and then out there in the industry?
Mike Trilli 03:24 Well, I just got here to HIMSS, so I’m really anxious. There’s a cyber security (area) and I think tucked in that little corner is a bunch of vendors that kind of focus on various aspects of identity and other data security, so I’m anxious to go back there and visit them, I would highly encourage others to do so.
But if I look at it from an industry standpoint, I think there’s a very interesting dynamic that’s happening, right? And I think if we all kind of take a step back from health insurance for a second, and look at identity management whether it’s in financial services or other areas. The whole notion of account takeover and what drives that is really fraudsters using change of address to do so. I think what we’ve seen now with the Anthem and other breaches is there’s a little bit richer dataset that these fraudsters have to work for, work with, so there’s some change in dynamics in terms of what a health plan in particular would have to look for and key on and need a solution to be able to say, Hey! This is a fraudster that’s trying to take over an account for example mobile phone, right? I mean that’s almost surpassing the addresses, the defacto kind of fraud flag, but you see I think from a health plan perspective, it’s how do you recognize the current trends and then adapt with the new trends, because there’s a lot of data that these guys are working with out there, unfortunately.
Todd Eury 04:33 So one of the most important aspects especially when we sit in the Experian Health Booth is being able to analyze and make sense of your data as a hospital system, as a physician group, as a specialty pharmacy, whatever. So how about data analytics, what trends are you seeing there?
Mike Trilli 04:52 I think it fits into a broader continuum, right? There’s a claim element to that, whether it’s the ability to get paid on that claim. Then there’s the ability to use analytics in conjunction with that from a care management perspective. And I think ultimately then there is this other component that relates to them in terms of prescribing the services that you need to assess the risk of the patient, right? So getting a little deeper into the analytic capability of being able to compare myself to you for example Todd, and being able to use the analytics to be able to clearly articulate who needs what from a service or a equipment standpoint. So I kind of see the trend heading to the much more strategic in using that analytics across those three areas.
Todd Eury 05:34 And it sounds like you’re touching on personalized medicine too.
Mike Trilli 05:39 To a certain extent potentially, yes.
Joe Lavelle 05:42 Based on some of these trends, how should provider organizations be positioning themselves and lining themselves up?
Mike Trilli 05:48 It’s about investment. It’s about priority, right? So I think one of the things I see from an analytic standpoint as well, as I see the use case sort of bubbling up more horizontally across businesses. So I think from a provider standpoint you’re always going to have the business processes and what they can do to drive better efficiencies. But I think also now, when you look at the analytics capabilities out there, it’s being able extend that across various pieces of your organization. So I think the ROI is getting much better. So I think as a provider, it’s the ability to get those groups across your organization in sync, to be able to come up with a pretty relevant ROI for your company to start using analytics more and more across those different pockets.
Todd Eury 06:30 Mike, there are over forty thousand people here at HIMSS, there’s hundreds of vendors, there so much going on, there’s the keynote speakers and all the sessions, what do you hope to accomplish while you’re here at HIMSS 2017?
Mike Trilli 06:44 That’s a great question. For me I like to look for two things. I think first and foremost given my role as an analyst, I really like to look at where the innovation is, maybe not necessarily at a company level, it could be at a functional level of a product, but it could be at a company. So I think innovation and really where the industry is moving.
I think on the second point, what I typically look for in these companies and even though they introduce new product offerings. I’m kind of nuts and bolts guy. I kind of like to look at the integration, where are we at the integration, and how are the API’s evolving? How are those different things, because eventually as a provider you’re going to have the same choice among hundreds of vendors, ultimately it’s got to have some form of functionality, but how’s it going to work within your existing business of your systems? So I think those are the two things I kind of look for.
Joe Lavelle 07:28 I’m surprised we haven’t seen a press release yet that announced M&A activity. Typically HIMSS is the cycle, and I was expecting this would be the year that we’d see, I know several companies that I have expected to see announcements from. Is this going to be a big year or a small year from your perspective in terms of M&A activity?
Mike Trilli 07:50 Well, I think we start at the top and we look at what’s happening on the mega insurance side, right? And does that have any impact across healthcare as a whole? It could, but I think to me I would expect a lot of activity, but more focused M&A right? Maybe potentially not looking at these game changing buying for portfolios but I think really looking at pieces of technology that can accommodate or compliment a company’s existing business. So I would expect the flurry kind of on the vendor side if you will.
Joe Lavelle 08:17 I still won’t be surprised if we see three or four announcements even this week. Of companies that have built up capabilities on the buzz words we’ve been talking about for 3 or 4 years: analytics, patient engagement, they built up customers, they’ve got great capabilities, but they benefit from being part of a larger organization that would benefit from having those capabilities like that.
Todd Eury 08:37 Absolutely! As a specialist, yup.
Joe Lavelle 08:40 Outstanding. Mike, it looks like we’re running up against the clock. Before we do, where can people go to learn more about the Aite Group and what you guys are doing?
Mike Trilli 08:47 Sure, so the website’s www.aitegrroup and Aite is spelled aitegroup.com
Joe Lavelle 08:53 Perfect. Thanks Mike, thanks for sharing your great wisdom with us today. It was a pleasure having you on the show.
Todd Eury 08:57 Thank you Mike.
Mike Trilli 08:58 Thanks for the time gentlemen.
Joe Lavelle 08:59 All right. That wraps this live broadcast from HIMSS17. Again, we want to have a quick shout out to our sponsor and great friends at Experian Health. On behalf of our guest, Mike Trilli and my co-host Todd Eury, I’m Joe Lavelle we know you’ll stay tuned for more of our Join The Conversation coverage from Orlando.
About Aite Group
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- Access to a pool of 30+ analysts with decades of domain expertise and an incredible industry network. For a flat, annual fee, clients gain unlimited access to our experts.
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- Mix of qualitative and quantitative research. We employ subject-matter and data experts to create syndicated research and meet custom needs.
About Experian Health
More than 60% of U.S. hospitals count on Experian Health. These providers—along with thousands of medical practices, labs, pharmacies and other risk-bearing entities—are making smarter business decisions, boosting their bottom lines and strengthening patient relationships. Our clients have discovered the value of our revenue cycle management, identity management, patient engagement and care management solutions to power opportunities in the new era of value-based reimbursement.
Experian Health is powered by the strong healthcare heritage of our legacy companies, plus the deep data and analytics capabilities of Experian. This unique combination positions us well to help you succeed.
Revenue cycle management solutions automate orders, patient access, contract management, claims management and collections to improve efficiency and increase reimbursement.
Identity management solutions match, manage, and protect patient identities to enable accurate patient information and to safeguard medical information.
Patient engagement solutions connect patients with personalized portals to create price estimates, apply for charity care, set-up payment plans, combine payments to hospitals and physicians and schedule appointments.
Care management solutions organize and enable sharing of post-acute patient care information to help providers succeed in the new era of value-based reimbursement.